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14) Assume that the weekly payroll of OFF THE RUNWAY BOUTIQUE (OTB) is $390. December 31, end of the year, falls on Monday, and OTB

14) Assume that the weekly payroll of OFF THE RUNWAY BOUTIQUE (OTB) is $390. December 31, end of the year, falls on Monday, and OTB will pay its employee on Friday for the full week. What adjusting entry will OTB make on Monday December 31? (use five days as a full work week a) Salary payable Salary expense 2790 390 b) Salary expense Salary payable c) Salary expense Cash 312 d) No adjustment is needed because the company will pay the payroll on Friday

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